{"id":12616,"date":"2023-03-31T06:52:36","date_gmt":"2023-03-30T17:52:36","guid":{"rendered":"https:\/\/cryptocurrency.org.nz\/?p=12616"},"modified":"2024-02-21T01:33:36","modified_gmt":"2024-02-20T12:33:36","slug":"what-is-bitcoin-nz","status":"publish","type":"post","link":"https:\/\/cryptocurrency.org.nz\/get-started\/what-is-bitcoin-nz\/","title":{"rendered":"What is Bitcoin NZ? – New Zealand’s Crypto Guide (2024)"},"content":{"rendered":"\t\t
Described as the ‘most disruptive financial technology of the last 100 years’<\/em>, Bitcoin is quickly evolving the way we view money and our sovereignty over our own financial destiny. Enjoy our guide and welcome to the future of decentralized universal currency.\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t Related Guides:<\/strong><\/span><\/p> How to Buy Bitcoin in NZ \u2013 Step-by-Step Guide (2024)<\/a><\/strong><\/p> Best Bitcoin Exchanges NZ \u2013 NZ’s Ultimate Guide (2024)<\/a><\/strong><\/p> Cryptocurrency Wallets NZ \u2013 New Zealand\u2019s Ultimate Guide (2024)<\/a><\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t Bitcoin<\/a>\u00a0is a groundbreaking decentralized digital payment system that allows individuals to transfer value directly to one another without the need for a central authority or bank.<\/span><\/p> Bitcoin is free to use, accessible to anyone with an internet connection and device, and has no comprehension of international borders; acting as the universal internet currency.\u00a0<\/span><\/p> This decentralized network is unique in that it operates using a public ledger called the blockchain. This ledger (meaning a record keeping system) is maintained by thousands of computers around the world, ensuring the accuracy and security of all BTC transactions. <\/span><\/p> Known as the gold standard of\u00a0cryptocurrency,<\/a>\u00a0Bitcoin is now used by hundreds of millions across the world, including roughly 300,000+ Kiwis who use it or hold it as a investment.\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t First conceived in 2008 and launched in 2009, Bitcoin is more than just a digital currency; it’s a revolutionary concept shaped by a distinct\u00a0ethos<\/a>\u00a0which has evolved over decades.<\/p> At its core, Bitcoin is built on principles that redefine our approach to money, emphasizing privacy, freedom, decentralization, self-sovereignty, individual responsibility and\u00a0autonomy<\/span>.<\/span><\/p> Privacy:<\/strong> Bitcoin enables users to transact with a level of privacy often absent in traditional banking system – the ability to conduct financial interacts without revealing personal info.\u00a0<\/p> Autonomy:<\/strong>\u00a0Users wield direct control over their funds, liberating them from reliance on central authorities, middle men third parties.\u00a0<\/span><\/p> Decentralization:<\/strong> In stark contrast to centralized financial structures, Bitcoin operates on a decentralized network. This lack of a single controlling entity ensures resistance to censorship, manipulation, and mitigates the risks associated with centralized weak points.<\/p> Self-Sovereignty:<\/strong> Bitcoin promotes the concept of self-sovereignty, emphasizing that individuals should be the ultimate authority over their own financial journey. Users hold their own private keys, granting them unparalleled control and access to their funds.<\/p> Self-Responsibility:<\/strong> An inherent part of the Bitcoin ethos is individual responsibility. Users are tasked with safeguarding their private keys and securing their wallets, with no central helpdesk, instilling a sense of personal stewardship in the pursuit of financial freedom.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t Crypto has been a hot topic for over a decade, but the complexity of this expanding market can be overwhelming due to the continuous news surrounding it. However, understanding the history of Bitcoin, the worlds first and most widely traded crypto, can simplify this task.<\/span><\/p> The inception of Bitcoin begun with a\u00a0<\/span>paper titled “<\/span>Bitcoin: A Peer-to-Peer Electronic Cash System<\/a>“, which was posted to a cryptography mailing list on October 31st, 2008 –\u00a0 with “Satoshi Nakamoto<\/i>” as the author. Satoshi’s true identity is still a mystery to this very day.<\/span><\/p> The Bitcoin network was deployed in 2009, released as open-source software when Nakamoto mined the first block of the blockchain (also known as the Genesis Block<\/a>).\u00a0<\/span><\/p> This bundle of transactions contained\u00a0<\/span>the first 50 Bitcoins ever created. From there, other early contributors mined BTC until 2010, when programmer Laszlo Hanyecz made the first known commercial transaction – he used 10,000 BTC to buy two pizzas from Papa John’s.<\/span><\/p> Interesting fact:<\/strong> As of this writing, that amount of Bitcoin is worth over $300 million.<\/em><\/span><\/p> Since then, Bitcoin has been traded over 800 million times, with the earliest significant transactions taking place in darknet markets. The largest of these markets was Silk Road, created by “Dread Pirate Roberts”, aka\u00a0<\/span>Ross Ulbricht<\/a>, which traded almost 10 million Bitcoins throughout its existence. Ross is currently serving a life sentence as we speak.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t To buy Bitcoin<\/a> or any other cryptocurrency in New Zealand, you can use one of the NZ Crypto Exchanges listed below. You can buy BTC in minutes depending on the platform. <\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t Easy Crypto NZ <\/b><\/a>is New Zealand\u2019s most popular crypto retailer, making it safe, fast, and easy for Kiwis to buy and sell over 110+ cryptocurrencies in minutes \u2013 including Bitcoin, Ethereum, Monero, Dogecoin & XRP.<\/p>\n Cryptocurrency NZ Recommendation<\/b><\/i>\u00a0\u2b50<\/i>\u2b50<\/i>\u2b50<\/i>\u2b50<\/i>\u2b50<\/i>\u00a0<\/span><\/p>\n Website:<\/b> www.easycrypto.ai\/nz<\/a><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t Here at Cryptocurrency NZ<\/a>, we’ve used\u00a0<\/span>Easy Crypto<\/a>\u00a0without any issues for over 5 years.\u00a0<\/span><\/p>\n They’ve helped mainline hundreds of thousands of New Zealanders into the cryptocurrency markets.\u00a0<\/p>\n Easy Crypto is a re<\/span>putable, reliable and Kiwi focused crypto retailer who without a doubt achieves their mission of making it safe, fast and easy for Kiwis to buy and sell Bitcoin and 160+ other coins in NZ. <\/span><\/p>\n EC typically provide rapid order speeds through their simple interface and are well suited to first time crypto investors.<\/span><\/p>\n Our biggest critique would be EC\u2019s excessive compliance program, requiring users to jump through increasingly heavier identity and source of funds verification steps for users seeking to acquire privacy coins such as Monero (XMR).<\/span><\/p>\n For privacy focused users, non-KYC\u2019ed options such as the NZ P2P Crypto Marketplace<\/a>\u00a0may be better suited.\u00a0<\/span><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t \u2714\ufe0f B<\/b>eginner friendly:\u00a0<\/b>Easy Crypto\u2019s\u00a0interface is well suited to first time or casual investors.\u00a0<\/span><\/p>\n \u2714\ufe0f Near instant KYC:<\/strong>\u00a0you can typically create an account, verify your ID and trade within minutes.\u00a0<\/span><\/p>\n \u2714\ufe0f<\/strong>\u00a0Non-custodial:<\/strong>\u00a0crypto is sent directly to your own private wallet, Easy Crypto doesn\u2019t store it for you.\u00a0<\/span><\/p>\n \u2714\ufe0f Transparent fee structure<\/strong>: When you place an order, you can see the exact numbers of how much you’ll receive.\u00a0\u00a0<\/span><\/p>\n \u2714\ufe0f Local customer support:<\/strong>\u00a0when you need help, EC provides high quality one-on-one assistance.\u00a0\u00a0<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n \u274c\u00a0Limited features:<\/strong>\u00a0day traders are better suited to live exchanges like\u00a0Binance NZ<\/a><\/span>\u00a0or Kiwicoin<\/a><\/span><\/span><\/p>\n \u274c\u00a0Excessive compliance:\u00a0<\/strong>You can\u2019t buy privacy coins like Monero without proving the source of your funds.\u00a0<\/span><\/p>\n \u274c\u00a0No on-site wallet:<\/strong>\u00a0users must have a secure wallet already set up to buy and sell through Easy Crypto.\u00a0<\/span><\/p>\n \u274c\u00a0Slippage:<\/strong>\u00a0There\u2019s sometimes a difference in prices between when you locked in your fees vs current prices.<\/span><\/p>\n \u274c\u00a0KYC:<\/strong> You have to verify your identity in order to actually buy or sell. This data is then passed on to the government.\u00a0<\/span><\/p>\n Easy Crypto NZ<\/a><\/span> is a homegrown, non-custodial crypto retailer with a strong reputation in the NZ crypto community.<\/span><\/p>\n They have a strong presence in the domestic crypto industry , sponsoring Cryptocurrency NZ\u2019s meetups<\/a> <\/span>and are known to actively engage in New Zealand\u2019s various community forums, groups and events.<\/span><\/p>\nWhat is Bitcoin in NZ? <\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
What is the Bitcoin Ethos?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
History of Bitcoin<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
Best Way to Buy Bitcoin in NZ <\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
Easy Crypto NZ<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
Best Way for Beginners to Buy<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
Pros of Easy Crypto NZ<\/span><\/h2>\n<\/div>\n<\/div>\n
Cons of Easy Crypto NZ<\/span><\/h2>\n<\/div>\n<\/div>\n